What's the best way to rob Peter to pay Paul?

Question

Anybody got any techniques? I'm pretty screwed financially. What's the best way to appease the Bill Collectors and stop the calls? How do you negotiate payment plans?

Advice appreciated. =D

Answer 1

Send $10 to each creditor to show that you're making some good faith payments.

Call and speak with a supervisor and tell them you want to work out a deferred payment plan. Show that you are willing to work at it and not just ignore them.

Cut out everything that's non-essential (magazine subscriptions, internet, cable and cell phone to list a few) and cut back every way that you can.

Go see a non-profit credit counselling place and get your financial life straightened out.

Answer 2

I robbed peter by getting a new credit card.
I found one that gave me free balance transfers at 0% interest for one year.
This has saved me at least 400 bucks so far, I have used that money to pay down this balance. I of course wont be able to pay this all off at the end of that time but the lower payments really helped.
I am not sure how to negotiate payments as one way wont work with all lenders but I really think that you should stay away from the CCC or other credit management agencies as they will negotiate for a fee....
Call the company yourself, all that they can say is NO and you will be no worse off then you are now.
In the mean time, look for new ways to create money.
If you eat out for lunch daily at work, try taking your lunch to work 3 days a week.
Try selling your extra stuff that you dont use on ebay or at a garage sale.
If you have kids, consider buying winter coats for them NOW where you can save nearly half....
look at your cellphone plan, can you cut back there, how about your phone and cable.
can you make cuts in either one of those places?

I HAD over 300 cable channels, however, I am only one person and I can only watch tv a few hours a day due to work and other demands. It was clearly obvious that I did not need 4hbo channels. that cut alone saved me 20 bucks a months.

Can you make one day a week a laundry day? Wash bigger loads and save money on detergent, water and energy.
Switch to energy efficent light bulbs they might save you 100 bucks a year and you dont have to replace them nearly as often as the other ones.

If you use acne medication, do you have to get proactiv? A cnbc report stated that drug store applications are just as effective but will cost you over $200 bucks less per year.
YOu get the idea.
GOOD LUCK TO YA
p.s. be sure to stop using the credit cards!

good luck!

Answer 3

Stop the calls be changing the number or let the answer maching pick up. As for the bills, you will have to pay them some day. Start with the smallest and work you way through them. Only pay the minimums on the others and put all your extra money towards the small one. May try to pick up a part time job. But robbing Paul to pay Peter will eventually catch up. You need a lifestyle change not a quick fix. good luck!

Answer 4

Bill collectors are always looking to settle debt.....no matter what if you don't pay they don't get paid. Try to find from others what they will settle for ...usually 75%-85% of the total debt owed. The problem is they won't stop calling until you agree to something....be frank with them and tell them you want X amount pf payments....they will put you into a computer system that then distributes the bill to you automatically. Now if you can't pay you have got to tell them or else they will have to make a forfieture case against which will really burn your credit score.....
By the way you Peter has to allow you to rob him in order for you to pay Paul. Plan to deficient in one area with surpluses in others.

Answer 5

Get some help, you can always get a on line job, or pay a little Good Luck